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jack welch setting off a bit after firestorm this morning. shortly after the report, welch tweeted this out. unbelievable jobs numbers. he doesn't mean it in a positive way. he means it unbelievable. these chicago guys will do anything. can't debate so change numbers. a few moments later, hilda solis fired back. >> i'm very disappointed to hear that. we have a very professional service organization with top officials working in the bls. our most trained and skilled individuals. it is really ludicrous to hear that kind of statement. >> representative allan west is a florida republican and he says he agrees with mr. welch. congressman, good to see you. >> thank you very much. how are you all? >> what do you believe what mr. welch says and not what the secretary of labor says. >> it is not about believing what mr. search says. it is about studying the numbers. we continue to see these inconsistencies and revisions upwards and downwards. work force participation rate still remains at a 30-year low. when you compare this to the u6 computation whic
jack welch setting off a bit after firestorm this morning. shortly after the report, welch tweeted this out. unbelievable jobs numbers. he doesn't mean it in a positive way. he means it unbelievable. these chicago guys will do anything. can't debate so change numbers. a few moments later, hilda solis fired back. >> i'm very disappointed to hear that. we have a very professional service organization with top officials working in the bls. our most trained and skilled individuals. it is...
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Oct 6, 2012
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welch, jack welch needs to be out there helping the country get back on track. there are ceos and all sorts of people, re-tweeting what he has said. i think there are questions to be asked about the methods, pay take pla -- attention to the survey, the hours worked, that is what touches people. to say something like this is like donald trump, saying that president obama is not a citizen, without any proof. you are jack welch, take this opportunity while people are listening to you, i'm taking the tweet back, i exaggerated, there are problems, that is like asking the governor, how often do you beat your wife? >> i should have had the question mark on the back of it. let's face it, the fact is, we had 25 economists polled before this number came out. the average number they expected was about 115,000. not one of them did have a number below 8.1. >> all right, jack welch there, and the next number is due out in just four days before the election. >>> all right, would you believe that a 220 pound teacher is suing, because he said a 60 pound student beat him up. our
welch, jack welch needs to be out there helping the country get back on track. there are ceos and all sorts of people, re-tweeting what he has said. i think there are questions to be asked about the methods, pay take pla -- attention to the survey, the hours worked, that is what touches people. to say something like this is like donald trump, saying that president obama is not a citizen, without any proof. you are jack welch, take this opportunity while people are listening to you, i'm taking...
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here is what jack welch said. the data collection system is biased and overstated. i'm not sorry for the heated debates that pursuit. i am not the first to question government numbers and hopefully i will not be the last. what did you make of that whole brouhaha. >> i am not inclined to believe that the numbers were that kind of thing. i think that it is very difficult to do. the bigger issue is whether it was a blip or two, a statistical blip, or whether this is going to be a trend. we are probably not going to know that until after the election. gerri: at least one more data point to come. jonathan, what did you make of getting fired for him. the man ran ge. >> he diverted the attention away from the substance of the numbers because he went back to the integrity of the numbers. 114,000 new jobs is nothing to celebrate. we need 150,000 jobs to absorb all the new college graduates. i was surprised that he diverted from the fact that it was not good job supported all. gerri: that rummy is disturbed by that, a new low in the political season. >> it is very sleazy thin
here is what jack welch said. the data collection system is biased and overstated. i'm not sorry for the heated debates that pursuit. i am not the first to question government numbers and hopefully i will not be the last. what did you make of that whole brouhaha. >> i am not inclined to believe that the numbers were that kind of thing. i think that it is very difficult to do. the bigger issue is whether it was a blip or two, a statistical blip, or whether this is going to be a trend. we...
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you are jack welch. you got to take this opportunity while everybody is listening to you to actually say yes, anderson, i'm taking that tweet back. i'm going to accepted a new tweet to say i was exaggerating. there are problems, maybe bls should look into it, but the actually throw out an accusation, that's like asking the government how often do you beat your wife? >> i should have had a question mark, at the back of it. let's face it. but the facts are no matter how you want to look at this, we had 25 economists polled before this number came out. the average number they expected was about 115,000. >> yes. >> not one of them had a number below 8.1. >>> tomorrow, three suspected terrorists are expected to make their first court appearance in new york. they were extradited from britain overnight after a legal battle that lasted more than ten years. one suspect has a hook for a hand and has called osama bin laden a hero. the radical cler iic is wanted r several crimes commit against the united nations the
you are jack welch. you got to take this opportunity while everybody is listening to you to actually say yes, anderson, i'm taking that tweet back. i'm going to accepted a new tweet to say i was exaggerating. there are problems, maybe bls should look into it, but the actually throw out an accusation, that's like asking the government how often do you beat your wife? >> i should have had a question mark, at the back of it. let's face it. but the facts are no matter how you want to look at...
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Oct 5, 2012
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jack welch. he'll tell me why in a moment. despite the rally since 2009, investors have yanked hundreds of billions of dollars out of the market. is there a lost generation of investors? can they come back in.
jack welch. he'll tell me why in a moment. despite the rally since 2009, investors have yanked hundreds of billions of dollars out of the market. is there a lost generation of investors? can they come back in.
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now as far as jack welch is concerned, you're all sitting around talking about jack welch, a great legend in business, a very smart guy, he's 100% correct, 100% correct. >> wait a second, in terms of the chicago political guys manipulating the numbers? >> how does it go down to 7? there wasn't an economist in the country and after the election they'll do a big correction but jack welch has it right, there's no question 100% and a lot of the numbers that they're using are given by the obama administration. >> i know ken has a question for you, but my only thought on this whole thing is, i don't know that i buy that 7.8% number. i don't think that's real. i don't know that it was politics necessarily. >> nobody buys it. >> he's saying it's the numbers given to the bls by the obama administration. there's a lot of assumptions. obama care, the cbo, you can't impugn the cbo for coming up with $1 trillion for obama care. it was the numbers they got, double counting taxes, all of these bells and whistles in obama care to get it to work out. >> right. >> hold on. for the past year one of the talk
now as far as jack welch is concerned, you're all sitting around talking about jack welch, a great legend in business, a very smart guy, he's 100% correct, 100% correct. >> wait a second, in terms of the chicago political guys manipulating the numbers? >> how does it go down to 7? there wasn't an economist in the country and after the election they'll do a big correction but jack welch has it right, there's no question 100% and a lot of the numbers that they're using are given by...
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Oct 6, 2012
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jack welch, former chairman of ge accused the white house of cooking the books he said these chicago guys will do anything when pressed by chris matthews, he wouldn't take it back. >> i have no evidence to prove that. i just raised the question. >> did you talk to the economists or any of the people in the accounting world that understood how the numbers were put together before you accuse the chicago guys of changing the numbers? >> it seems like a coincidence, that one month before the election they would end up at 7.8. >> reporter: the numbers are crunched by the economists and the independent bureau of labor statistics, civil servants, not employees. >> these are skilled people working in the bls, it is ridiculous to hear that kind of statement. >> reporter: a prominent romney supporter agrees. >> there was no way they were manipulated for political purposes. the people that put it together were civil servants, the experts in the area. the process was one of integrity. >> reporter: while some see it as a boost, romney is trying to neutralize the attack, over his comments regardin
jack welch, former chairman of ge accused the white house of cooking the books he said these chicago guys will do anything when pressed by chris matthews, he wouldn't take it back. >> i have no evidence to prove that. i just raised the question. >> did you talk to the economists or any of the people in the accounting world that understood how the numbers were put together before you accuse the chicago guys of changing the numbers? >> it seems like a coincidence, that one month...
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yesterday jack welch, the former chairman and ceo of ge, tweeted unbelievable job numbers. these chicago guys will do anything. can't debate, so change numbers. he's obviously very influential man. when he tweets, people listen. is there any way that these kinds of numbers can be manipulated? >> he tweets, people listen, they retweet, they write about it and we certainly talked about it a lon on cnbc. the fact of the matter is the bureau of labor statistics has been calculating this number since 1948. it's a scientific survey. they poll 140,000 businesses. you definitely have a giant sample here. what some people are saying is a possibility is that the type of businesses sampled were ones that were skewed towards jobs added. those place where is they might have add more part-time workers. we also saw a giant jump in the number of people employed from the age group of 20 to 24. the biggest jump since 1964. some of these businesses that employed more young people being pulled? it's unlikely. it's really an issue of how much data you can actually get together in 30 days time.
yesterday jack welch, the former chairman and ceo of ge, tweeted unbelievable job numbers. these chicago guys will do anything. can't debate, so change numbers. he's obviously very influential man. when he tweets, people listen. is there any way that these kinds of numbers can be manipulated? >> he tweets, people listen, they retweet, they write about it and we certainly talked about it a lon on cnbc. the fact of the matter is the bureau of labor statistics has been calculating this...
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. >> i'm going to go with jack welch on this one. >> how convenient that the rate drops below 8% for the first time in 43 months, five weeks before an election. >> right back to where it was january 2009. >> folks? this is more than a quinhe coul incidence. >> what would explain why after unemployment has been steadily declining for the last year that now suddenly right before the election it declines a little more. please! i think we know what's going on here. >> what are people insinuating here? that the books are cooked? >> a lot of people are saying that government is cooking the books here. >> these guys are saying they feel like they cooked the books. >> look, i got to say if you're cooking the books, 7.8% unemployment, get the. [ beep ] recipe. if you're cooking, make something nice for people. hey, unemployment's 2.6%. everybody, we're going to eat! >> ever since mitt romney called out big bird by name at last week's presidential debate, president obama's campaign has been having a lot of fun with it. at a san francisco fund-raiser last night, president obama himself once aga
. >> i'm going to go with jack welch on this one. >> how convenient that the rate drops below 8% for the first time in 43 months, five weeks before an election. >> right back to where it was january 2009. >> folks? this is more than a quinhe coul incidence. >> what would explain why after unemployment has been steadily declining for the last year that now suddenly right before the election it declines a little more. please! i think we know what's going on here....
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jack welch tweeted this, unbelievable jobs numbers, these chicago guys will do anything, can't debate so change the numbers. and the partisan pushing continues this morning. >> on friday we learned that the unemployment rate is now at its lowest level since i took office. >> friday's jobs report shows america still desperately needs jobs. yet the president's central and sole proposal would mean fewer jobs. >> republicans in congress need to stop trying to relaxing fight the battles of the past few years and finally start doing something to actually help the middle class get ahead. >> we can't afford four more years like the last four. falling incomes, rising prices, 23 million americans struggling for work. >> congress needs to step up and pass my plan to create a veterans job corps to help our returning heroes find work as cops, firefighters and park rangers in communities across the country. a few weeks ago republicans in the senate voted that plan down. ask them why someone who fights for this country abroad should fight for a job when they come home. >> understand that the preside
jack welch tweeted this, unbelievable jobs numbers, these chicago guys will do anything, can't debate so change the numbers. and the partisan pushing continues this morning. >> on friday we learned that the unemployment rate is now at its lowest level since i took office. >> friday's jobs report shows america still desperately needs jobs. yet the president's central and sole proposal would mean fewer jobs. >> republicans in congress need to stop trying to relaxing fight the...
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jack welch suggested obama's team manipulated the data to give the president a boost well our guest is here to dispel conspiracy theories around the drop which is not to say the jobs numbers are manipulated but rather that they're manipulated on an ongoing basis one argue our economist argued in past have times look at this the unemployment rate has been low only because government programs especially social security disability have effectively been buying people off the unemployment rolls and reclassifying them as not in the labor force in other words the government has cooked the books thus far back in two thousand and three austin bowles be writing you may know him he went on to be an obama aide.
jack welch suggested obama's team manipulated the data to give the president a boost well our guest is here to dispel conspiracy theories around the drop which is not to say the jobs numbers are manipulated but rather that they're manipulated on an ongoing basis one argue our economist argued in past have times look at this the unemployment rate has been low only because government programs especially social security disability have effectively been buying people off the unemployment rolls and...
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jack welch questioning the jobs report last friday. today he is using a few more than 140 characters to explain. we're going to talk about his op ed. at 8:00 a.m., jack will be calling into the show to talk about things. all of that coming up. on the lighter side of things, we'll be talking sports. in baseball, the playoffs last night. the a's beating the tigers 2-0. detroit now leads the series 2-1. the reds lost 2-1, but cincinnati still leads the series two games to one. we'll have more in squawk sports at 6:20 eastern. that's a good one i was watching. the next hour, we'll talk about golf. rhys jones is our guest host. he designs courses. andrew, good morning. >> thank you, becky. let's talk about earnings, starting with alco waalcoa. stronger demand for aluminum products, from airplanes and automobile producers. this offset weak aluminum prices and worries about china's slumping economy and that's probably the bigger and more important piece of all of this. the ceo cautioning that the company's noticed a slight slowdown in some re
jack welch questioning the jobs report last friday. today he is using a few more than 140 characters to explain. we're going to talk about his op ed. at 8:00 a.m., jack will be calling into the show to talk about things. all of that coming up. on the lighter side of things, we'll be talking sports. in baseball, the playoffs last night. the a's beating the tigers 2-0. detroit now leads the series 2-1. the reds lost 2-1, but cincinnati still leads the series two games to one. we'll have more in...
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you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems bls should look into but to throw out an accusation that's like asking the government how often do you beat your wife. >> i should have had a question mark at the back of it, ali, let's face it, but the facts, are ali, no matter how you want to look at this, we had 25 economists polled before this number came out. the average number they expected was about 115,000. not one of them -- >> yes. >> had a number below 1.1. >> labor secretary hilda so li s shot back at the critics telling cnn it was insulting for people to suggest her department was manipulating numbers for the president's benefit. >>> the obama and romney campaigns are ratcheting up the rhetoric in the wake of the jobs report. our political editor paul steinhauser hats candidate's comments. one set of numbers, tw
you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems bls should look into but to throw out an accusation that's like asking the government how often do you beat your wife. >> i should have had a question mark at the back of it, ali, let's face it, but the facts, are ali, no matter how you want to look at this,...
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welch. what does it say about partisanship in the country? >> it says that the partisanship starts to rot people's brains. the theory is just -- we need a good name for this. i nominate job nutters. but this really is ridiculous. this is -- first things first, this is good news for the country. and, yes, it benefits the president because it adds to argument. it takes away the argument that unemployment rate's been over 8%. it's a positive sign for the country. and frankly, it gives the president a boost in the wake of a terrible debate performance. but bottom line, it's a sign that the trend is moving away from the debt sweep we've dealt with. >> let me pick up on that. we heard david kerley say some democrats are saying what debate? how much of a boost does it really give the president, given the lackluster nature of his performance the other night? >> it doesn't give the president a do-over. he still had a lousily first debate. that hurts. it hurts. it's not determinative. ultimately, the
welch. what does it say about partisanship in the country? >> it says that the partisanship starts to rot people's brains. the theory is just -- we need a good name for this. i nominate job nutters. but this really is ridiculous. this is -- first things first, this is good news for the country. and, yes, it benefits the president because it adds to argument. it takes away the argument that unemployment rate's been over 8%. it's a positive sign for the country. and frankly, it gives the...
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. >> christy, some of the attacks from conservatives, such as jack welch, saying they don't believe the numbers. they believe the books are cooked essentially. explain the process of how we reach these numbers today? >> there's spin, and then there are conspiracy theories, and the spin, which is valid, if spin can be valid, is that, you know, look, you still have only 114,000 jobs created on balance. anha's -- you know, you th ty pu together. right? one of them is a survey of people at home where you call anthpele s yes or no and explain how. the other is a survey of employers where they ask are you hiring? that's where the 114,000 number comes om114,000 number might not catch everyone who is working part-time from home or just working part-time or doing some kinds of contract work, so that's why sometimes thercran bwe no, they're noin t bt of bls cooking the books for some political reason. i would bring this one point, suzanne, if they were, wouldn't they have done that after the president gave his speech in charlotte? instead he gave a speech in charlotte, and it was a bad report the
. >> christy, some of the attacks from conservatives, such as jack welch, saying they don't believe the numbers. they believe the books are cooked essentially. explain the process of how we reach these numbers today? >> there's spin, and then there are conspiracy theories, and the spin, which is valid, if spin can be valid, is that, you know, look, you still have only 114,000 jobs created on balance. anha's -- you know, you th ty pu together. right? one of them is a survey of people...
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jack welch went further obviously the former ceo of g.e. and he said unbelievable jobs numbers. the these chicago guys will do anything. can't debate so they change the numbers. set person who suggested something fishy was going on. >> and of course our own lou dobbs has said no the bureau of labor statistics is insulated entity and peter morris is i on our show a short time ago said no, this isn't the case that they would never cook the books for a white house. that's not something they would do. they are economists and statisticians and there might be anomaly in the numbers. here was jack welch yesterday talking to cavuto and he said something smells funny here, listen. >> these numbers don't smell right when you think about where the economy is right now. every economist this morning predicted roughly 90 to 120,000 and 8.2 unemployment came out very favorably just one tenth of a point below when the president took office. >> well, it's funny when people manipulate numbers back and forth on both sides. i always think about the 23 million people who don't have a job and you guy
jack welch went further obviously the former ceo of g.e. and he said unbelievable jobs numbers. the these chicago guys will do anything. can't debate so they change the numbers. set person who suggested something fishy was going on. >> and of course our own lou dobbs has said no the bureau of labor statistics is insulated entity and peter morris is i on our show a short time ago said no, this isn't the case that they would never cook the books for a white house. that's not something they...
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>> i think the jack welch stuff was crazy talk. and earlier in the year when you guys were down in washington on this, joe and i talked about it, there were between points that i would make. one, nobody messes or manipulates these numbers. but, took i think we exaggerate the importance of the numbers for this reason. the people who will vote on november the 6th know what they feel about the economy already. they're living it every day. so because there's a headline that says 7.8, it's a talking point, but they already know what their friends and neighbors are doing. >> when do we find out how romney is fun raising compared to that 180 million or whatever? >> i think if it was so par with obama's, we would have heard already. i think it's probably behind. >> you don't hear that that's unbecoming to have so much money to spend. just don't hear -- it's alway s the republicans. >> it's not decided by money. nice to have, but there is saturation information for the small number of swing voters. and even if obama beat romney by 20, 30 mi
>> i think the jack welch stuff was crazy talk. and earlier in the year when you guys were down in washington on this, joe and i talked about it, there were between points that i would make. one, nobody messes or manipulates these numbers. but, took i think we exaggerate the importance of the numbers for this reason. the people who will vote on november the 6th know what they feel about the economy already. they're living it every day. so because there's a headline that says 7.8, it's a...